Business Economics

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Welcome

Welcome to the homepage of the business economics concentration. Here we have provided you with information that you will find helpful in learning about the exciting field of economics. In addition, the information on this page will help you determine whether economics is the right major for you. If, after reviewing the information on this page, you have additional questions, please feel free to contact us. We will be happy to assist you in any way that we can as you make the very important decision of choosing your major field of study.

What is economics?

Economics is sometimes referred to as the queen of the social sciences. Economists are the only social scientists who are awarded the Nobel Prize each year for their contributions to the body of social science knowledge. To see the wide range of issues to which economists have applied economic principles, take a look at the contributions of Economists who have won the Nobel Prize. An understanding of economics is also necessary for successfully completing studies in business disciplines such as finance, marketing and strategic management. Finally, statistical studies have shown that students who complete an undergraduate degree in economics are well prepared to enter law school. One study found that the average Law School Admissions Test (LSAT) scores of economics majors ranked first among 15 different majors. In another study, economics majors ranked third among 29 different majors.

What you must do to successfully complete the degree program in economics

To successfully complete the degree program in economics, you must develop the skills to think logically, utilize quantitative tools to analyze data and communicate clearly, both verbally and in writing. See the AEA website for further information about the skills that you will need to succeed in the field of economics. The curriculum sheet contains the exact list of courses that you must complete to earn the degree in business economics at Delaware State University. The course descriptions site describes the content of each of the economics courses that you must complete.

Economics is a challenging major, but we think that you will find it to be an exciting one as well. As you work your way through the program, we are here to help you, especially on those occasions when may feel discouraged.

What do economists do?

If you are successful in earning an undergraduate degree in economics, there will be many employment opportunities available to you. With an undergraduate degree in economics, you will be well-qualified to pursue a career in many different occupations with private for-profit firms, as well as with the government and nonprofit organizations. You will also be prepared to pursue graduate studies in economics, business or enter law school. For more information about the types of careers available, click on the careers tab on the AEA website. The Famous Economics Majors page contains a list of famous people who earned an undergraduate degree in economics. By reviewing this list you will see the wide range of careers that economics majors have pursued. Finally, to learn about the employment outlook and earnings for people trained as economists see the Occupational Outlook Handbook. To see the types of careers that economics majors who graduated from Delaware State University have pursued, see Where are our graduates?

How much do economists earn?

The average starting salary in 2012-13 for graduates with a bachelor’s degree in economics and no experience was $48,500. To see how this salary compares to the salaries of other majors go to the AEA website, click on the careers tab and scroll down to career earnings.